What is a Bonus Plan? A bonus plan is an agreement between the employer and employee to pay out a predetermined amount of money based on performance.This employee bonus policy template is ready to be tailored to your company's needs and can be a starting point for setting up your employment policies. I am new in the role and all I have to work with is an excel spreadsheet with all the current salaries and the bonuses paid last year. How will the bonus be paid out (i.e. Payroll, AP), can this be managed through a central fund. Please Click here to access the form. 2 BR's upstairs with large Bonus Room.